Tuesday, May 9, 2017

Apple Euphoria Back As Drexel Sees $1 Trillion Market Cap

By Lu WangBloomberg

May 9, 2017

The Apple Inc. euphoria is back. As the iPhone maker’s stock rallied to a record $153.01 Monday, Drexel Hamilton’s Brian White boosted his 12-month price target to $202, becoming the first sell-side analyst to project a market value exceeding $1 trillion. Carl Icahn made a similarly optimistic forecast in October 2014. Shares peaked seven months later and didn’t return to those levels until earlier this year.